Times Corporation
the Accountant for the Times Corporation Prepared the Following

Times Corporation
The accountant for the Times Corporation prepared the following list from the company's accounting records for the year ended December 31, 2012.
$\begin{array}{llll}\text { Retained earnings: } & ? & \text { Preprid expenses } & \$ 7,000 \\\text { Casin } & \$ 97,000 & \text { Common stock } & 500,000 \\\text { Accounts payable } & 70,000 & \text { Accounts receivable } & 260,000 \\\text { Sales revenue } & 1,075,000 & \text { Interest income } & 70,000 \\\text { Cost of sales } & 780,000 & \text { Salary expense } & 220,000 \\\text { Land } & 810,000 & \text { Income tax expense } & 60,000 \\\text { Notes payable } & 520,000 & \text { Selling expense } & 75,000 \\\text { Inventory } & 280,000 & \text { Salaries payable } & 55,000\end{array}$ Prepare a Balance Sheet for the Times Corporation in a proper format.